Togo raises XOF69 billion for its first operation on the UMOA-securities market in 2020

Public finance
Monday, 20 January 2020 11:59
Togo raises XOF69 billion for its first operation on the UMOA-securities market in 2020

(Togo First) - For its first operation on the UMOA-securities market this year, Togo recorded more than XOF69 billion of subscriptions for its fungible treasury bonds. Initially, the government was seeking XOF25 billion through the fundraising that occurred last Friday. 

The performance represents a coverage rate of more than 276%. This is in a context where elections -which usually are a period of uncertainties in African nations, sub-Saharan Africa especially - are closing in. 

Over the amount mobilized, the country will retain only XOF27.5 billion. This sum should support the public treasury and help meet budget needs, for 2020. 

Let it be noted that the fungible bonds issued will mature in a year. Their nominal value is XOF1 million and the payment of related interests will begin today, January 20. 

Séna Akoda

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